Ally Investing Review
Ally Investing, formerly TradeKing, is one of the most trusted names in online investing, and it’s automated robo-advisor offering is no different from its core offerings.
Ally Investing: Overall
Ally Investing offers a wide range of options for its automated robo-advisor, Managed Portfolios, making it one of the most appealing offerings when it comes to auto-investing. Along with no trading fees, this makes Ally Investing our top pick.
Ally Investing: Fees
Core portfolio: The minimum deposit and balance for a Core portfolio is $500. Portfolios with a balance under $5,000 are charged $1/month, while portfolios over $5,000 are charged an annual fee of 0.25%.
Momentum portfolio: The minimum deposit and balance for a Momentum portfolio is $5,000 and is charged an annual fee of 0.50%.
Trading fees: Unlike other automated robo-advisors, Ally Investing Advisors does not charge investing fees. Portfolio fees are the only fees you can expect to pay.
Ally Investing: Options
Ally’s Managed Portfolios offers IRAs, rollovers and other taxable accounts. It puts your money in both ETFs (exchange traded funds) and ETNs (exchange traded notes), which act a lot like mutual funds, but are cheaper and more tax effective. Ally Investing offers two options for investing:
Core portfolio: The Core product is meant for a very “hands off” approach to investing. Investments are made and monitored, but will only be adjusted as needed when there is major fluctuation.
Momentum portfolio: On the other hand, Ally’s more expensive portfolio option, Momentum, constantly monitors your investments and will be adjusted in more short-term time periods to make sure you are getting the most out of your investments.
Ally Investing: Features
Ally’s Managed Portfolios has a lot of the same features as the other robo-advisor offers, like automatic rebalancing and tax-loss harvesting, as well as these features:
Risk Assist: Risk Assist is available for Core accounts for an extra annual fee of 0.5% on account $5,000 and above. Risk Assist monitors the markets daily for sharp drops and will reallocate your assets to accounts that are less affected by the market.
Entity Accounts: Managed Portfolios offers entity accounts for corporations, LLCs, etc, and is one of the only robo-advisor that does.